Start/Grow Your Business in Emmetsburg
EMU New Business Incentive
Emmetsburg Municipal Utilities (EMU) offers new businesses a 50% reduction in utility gas rates for a one year period, up to $2,500. To quality a business must: be in the first year of business, use EMU’s natural gas as the main heat source, be a small business (2+ full time employees or equivalent) engaged in the sale of goods or services directly to the consumer, be in a commercially zoned area of the City of Emmetsburg, and be a member of the Emmetsburg Chamber of Commerce.
Emmetsburg Municipal Utilities Retail Loan
Emmetsburg Municipal Utilities (EMU) has established a Retail Revolving Loan Fund to provide financial assistance to new and expanding retail businesses in Emmetsburg for activities such as construction and remodeling of commercial property, upgrades to exterior business signage and façade, and purchase of new products and materials. Retail loans are limited to $10,000. The interest rate is fixed at 1.5% for a period of 5 years. Contact the Emmetsburg Economic Development office at 712-852-2067 to learn more.
Emmetsburg Municipal Utilities Revolving Loan Fund
Emmetsburg Municipal Utilities (EMU) offers gap financing in the form of reduced rate loans to bridge the financial gap that exists between owner equity and the amount lending institutions are willing to commit to the project. The program is designed to encourage new business development in Emmetsburg as well as expansion and retention of existing business. Rate and terms vary by project. Contact the Emmetsburg Economic Development office at 712-852-2067 to learn more.
Tax Abatement
All qualified real estate assessed as commercial is eligible to receive an
exemption from taxation, except tax levies imposed by the Emmetsburg School District, on the actual value added by the improvements. The exemption is for a period of three (3) years.
Palo Alto County EDC Revolving Loan
The Palo Alto Economic Development Corporation (PACEDC) offers gap financing at a reduced rate to support growth of community industrial parks and entices businesses and industry to expand in Palo Alto County. Rate and terms vary by project. Generally, the term of the loan shall not exceed ten years, and the loaned funds shall provide no more than 35% of the financing for any project, up to a maximum of $50,000. Contact PACEDC Executive Director Maureen Elbert at 515.295.7979 to learn more.
NWIPDC Revolving Loan Fund
The Northwest Iowa Planning and Development Commission (NWIPDC) provides financial assistance to bridge the financial gap that exists between the amount private lending institutions are willing to commit for project development and the total amount needed to bring opportunities to completion. The purpose of the RLF is to support business activities for which credit is not otherwise available on terms and conditions which would permit completion and/or the successful operation or accomplishment of the project. The creation and retention of quality jobs serves as the main objective of this program. To learn more, contact Northwest Iowa Planning and Development Commission at 712.262.7225.
Cornbelt Power Cooperative Revolving Loan
Corn Belt Power Cooperative and its member systems provide financial expertise and assistance for business and industry to grow within the region through use of their POWER Fund. The program provides $50,000-$150,000 for a project, not to exceed 49% of the total project, at a lower rate than the prime rate plus a 1% administrative fee. The Revolving Loan Fund was established to help create jobs and build the rural economy within 25 counties in North Central Iowa. Call Brittany Dickey at 515-332-7715 or brittany.dickey@cbpower.coop for more information.
Small Business Development Center
The Small Business Development Center (SBDC) provides confidential, complimentary business coaching services including business plan development, market research, marketing strategies and cash flow projections.
IASourceLink
IA SourceLink helps small businesses succeed by providing complimentary and easy access to assistance necessary to start and grow a business.
Resource Navigator: portal connecting entrepreneurs to a network of nonprofits that provide services to help small businesses
Business Concierge: provides personalized assistance and referrals
Business License Info Center: information on licenses, permits, and regulatory information
SCORE
SCORE, the nation’s largest network of volunteer business experts, provides mentoring and education to thousands of startup and existing businesses. SCORE is dedicated to helping small businesses get off the ground, grow and achieve their goals by providing a wide range of services to established and budding business owners alike, including: mentoring, webinars and courses on demand, library of online resources, and events at SCORE chapters.
TIETZ ENTREPRENEURIAL CENTER
The Tietz Entrepreneurial Center at Iowa Lakes Community College in Algona provides aspiring entrepreneurs and business owners with information and resources essential for business success. Services provided include: classes and workshops, resource partners, and entrepreneur education.
Iowa State University Extension & Outreach
ISU Extension’s Iowa Community Indicators Program (ICIP) provides data and research on local economic, demographic, and social trends for businesses and communities.
Small Business Administration
The U.S. Small Business Administration (SBA) connects entrepreneurs with resources to plan, launch, manage, and grow their business. The Lender Match tool helps businesses expand with loans guaranteed by the SBA.
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GET A TAX ID AND REGISTER FOR STATE/LOCAL TAXES
In many cases, businesses need to obtain a federal Tax Identification Number, known as an Employer
Identification Number (EIN). In addition, businesses may need to register with the State to obtain a tax identification number to pay state and local taxes.
Small Business Resources
- Starting Your Business in Emmetsburg Brochure
- IASourceLink’s 10 Steps to Starting a Business in Iowa
- SBA’s 10 Steps to Starting a Business
- Iowa SBDC Startup Packet
- How to Start A Business (ChamberOfCommerce.org)
- Market Research & Competitive Analysis
- Small Business Workshop Calendar
- Click Here For More Useful Links for Small Businesses
Small Business Development Center
The Small Business Development Center (SBDC) provides free, confidential, customized business
coaching services covering a wide range of business topics and issues including:
- Business Planning
- Financial Analysis
- Financing Opportunities
- Cash Flow Projections
- Customer Discovery
- Export Assistance
- Business Transition
- Business Growth
- Business Growth Strategies
- Marketing Strategies
Request business counseling online:
www.iowasbdc.org/regional-center/spencer
